Mr. Simon Dyakowski reports

GSP COMMENCES GEOPHYSICAL SURVEY AT ALWIN MINE PROPERTY

GSP Resource Corp. has commenced an NSAMT (natural-source audio-frequency magneto-telluric) geophysical survey at the Alwin mine property. The survey is the first property-wide geophysical survey conducted at Alwin mine property in nearly 20 years.

The NSAMT survey is expected to explore the presence of deep seated conductive/resistive features beneath the property and the shallow copper-gold-silver open pit and underground resource. These bodies could indicate the presence of porphyry style mineralization. The Alwin project has significant exploration upside with the potential to grow open pit mineralization along strike and at depth as well as several underexplored porphyry style copper targets hosted.

Publicly available exploration data from Teck Resource's Highland Valley Copper (HVC) adjacent claims shows that historic IP (induced polarization) anomalies coincident with HVC operations and exploration drill targets extend westward onto the Alwin claims. Notably, 2015 diamond drilling of these IP anomalies by Teck Resources at the Bethsaida zone located 700 metres east of Alwin yielded significant intercepts of porphyry style copper mineralization

2025 exploration plans

GSP's 2025 Alwin and Mer exploration strategy commences with the Alwin property NSAMT survey. The 2025 exploration season is also expected to pursue additional targets adjacent to the Alwin open pit resource area as well as near other mineral showings on the property. Drill permitting for the Mer property commenced in the first quarter of the year and is progressing.

The Alwin project currently hosts an inferred mineral resource comprising 1.46 million tonnes (Mt) tonnes, at an average grade of 1.08 per cent Cu (copper), yielding 34.6 million pounds of Cu. Potentially significant silver and gold values have long been known at Alwin, however a lack of historic assays for these metals prior to drilling by GSP has precluded their inclusion in resource estimation.

Additional upcoming exploration work is subject to financing and market conditions and the company's board of directors' discretion. GSP expects to announce further exploration plans to delineate additional precious metal and polymetallic exploration targets over the coming weeks.

Options grant

GSP also announces it has granted an aggregate of 2.05 million stock options to consultants, management and directors of the company. The stock options are exercisable to acquire common shares at an exercise price of 10 cents per common share for a term of five years and vesting immediately, pursuant to the terms of the company's stock option plan.

About the Alwin mine project

The Alwin mine copper-silver-gold property is approximately 344 hectares and is located on the semi-arid, interior plateau in south-central British Columbia. The historic underground mine was developed over 500 metres long by 200 metres wide by 300 metres deep. Production took place between 1916 to 1981 from five major subvertical high-grade copper mineralization zones totalling 233,100 tonnes that milled 3,786 tonnes of copper, 2,729 kilograms of silver and 46.2 kilograms of gold. The average diluted head grade was 1.5 per cent copper.

The Alwin project hosts a current inferred mineral resource comprising 1.46 million tonnes (Mt) tonnes, at an average grade of 1.08 per cent Cu, yielding 34.6 million pounds of Cu.

The Alwin project is adjacent with the western boundary of Teck Resources' Highland Valley mine, the largest open-pit porphyry copper-molybdenum mine in Western Canada. Alteration and mineralization of the Highland Valley hydrothermal system extends westward from the Highland Valley mine onto the Alwin project (see GSP's news release dated Jan. 30, 2020).

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, PGeo (British Columbia), principal and consultant of Apex Geoscience Ltd. of Edmonton, Alta., a consultant to the company and a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mineralization hosted on nearby properties is not necessarily indicative of mineralization that may be hosted on the Alwin project.

About GSP Resource Corp.

GSP Resource is a mineral exploration and development company focused on projects located in southwestern British Columbia. The company owns 100-per-cent interest and title to the Alwin mine copper-gold-silver property, and the Mer property, in the Kamloops mining division, as well as a 100-per-cent interest and title to the Olivine Mountain property in the Similkameen mining division, of which it has granted an option to earn a 60-per-cent interest to a third party.

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